31 Aug Agri supply chain start-up LEAF raises fresh funds from Denmark-based BESTSELLER Foundation
Lawrencedale Agro Processing India (LEAF), a start-up that provides supply chain solutions for fresh produce, has raised an undisclosed amount in fresh funding from Denmark-based BESTSELLER Foundation and US-based Unitus Impact, with participation from existing investor Aspada Investments.
LEAF’s end-to-end supply chain solutions have helped it gain interest of social impact funds due to its ability to empower farmers with small land holdings. It will utilise the fresh capital to further expand its operations in South India and will partner with farmers from more horticultural belts.
“We have been working on how we can bring predictability to the lives of farmers with sustainable practices. We walk with small land-hold farmers in the entire lifecycle of the harvest and also bring in beneficial forward market-linkages through our brand LEAF,” said Palat Vijayaraghavan, founder & CEO of LEAF, in a statement.
Headquartered in Ooty, the firm works with over 3,000 farmers in South India alongside nearly 300 retailers, including large stores such as Spar Hypermarket, Star Bazaar, Aditya Birla More, Future Group and Godrej Nature’s Basket. In the next few years, LEAF plans to be working with around 10,000 farmers in India.
“More than 80% of farmers in India hold less than 2-hectares of land and given the fact that LEAF works extensively with them for livelihood improvement, the investment fits perfectly with our philosophy of working to improve sustainable agriculture value chains,” said Kristian Sloth Petersen, managing director, BESTSELLER Foundation, in a statement.
Apart from managing the supply chain of fresh farm produce, LEAF also works with farmers to help them improve yield and the quality of their produce. With this dual benefit of lower cost, high quality product, LEAF is looking to win more farming partners while becoming an invaluable asset for retailers.
LEAF had raised undisclosed amount as part of its series A investment back 2013 from Aspada Investments. The company has not disclosed financials of either its fundraising or its revenue run rate.